Purposes open for Small Enterprise Survival Grants Jan. 19

By Last updated Jan 16, 2021

The Midland Business Alliance is awarding $ 575,000 to eligible applicants in the hospitality, retail, exercise, entertainment, recreation, nonprofit, personal care, school, transportation, childcare and other sectors. (Logo provided / Midland Business Alliance)

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The Midland Business Alliance awards $ 575,000 to eligible applicants in the hospitality, retail, exercise, entertainment, recreation, nonprofit, personal care, school, transportation, and childcare sectors

… more

The Midland Business Alliance is awarding $ 575,000 to eligible applicants in the hospitality, retail, exercise, entertainment, recreation, nonprofit, personal care, school, transportation, childcare and other sectors. (Logo provided / Midland Business Alliance)

fewer

The Midland Business Alliance awards $ 575,000 to eligible applicants in the hospitality, retail, exercise, entertainment, recreation, nonprofit, personal care, school, transportation, and childcare sectors

… more

Applications for Small Business Survival Grants on January 19th

Starting Tuesday, January 19, Midland County entrepreneurs will be able to apply for a Small Business Survival Grant.

• Hire 1 to 100 employees worldwide (including full-time, part-time, and owner / employees) on November 17, 2020.

• Is in an industry that demonstrates that it will be affected by the “Gathering for Gatherings and Masks” beginning November 18, 2020.

• Requires working capital to support wages, salaries, rent, mortgage payments, utilities, or similar expenses.

• Indicates a loss of income as a result of the “meeting and masking order” set by the economic development organization in which an eligible company is located.

• Is not a live music and entertainment venue eligible for funding under Section 401 of Senate Act No. 748: Michigan Stages Survival Grant Program.

• Has a physical presence or business in the Michigan County area.

• Offers goods or services for multiple customers or customers.

• Is current for all local, state, and federal taxes.

• Has all active and valid government licenses / registrations to operate legally, if applicable.

• Complies with all state and local regulations regarding COVID-19, including but not limited to those issued by MDHHS

Applicants have until Friday, January 22nd, 12:00 noon to apply.

“These grants are not first come, first served, but the application window is short and will take some time to be put together so prepare your materials,” said Tony Stamas, President and CEO of the Midland Business Alliance.

The grants range from $ 10,000 to $ 20,000. Notifications of the award will be made on January 26th. All necessary documents must then be returned by January 28th, otherwise the funds will expire.

The Midland Business Alliance, working with the Middle Michigan Development Corporation on behalf of the Michigan Economic Development Corporation and its Michigan Strategic Fund, will review and recommend small business survival grants.

Business owners must create an account in Connect Space to apply. Visit https://pmbc.connect.space and click “Sign Up Now” to create an account. Physical or email copies of the application will not be accepted.

Applicants should also make a note of their password as you may need to enter your account when signing in in order to apply.

“As the COVID-19 pandemic continues to adversely affect local businesses, this funding will be critical to helping many stay afloat,” said Stamas. “We encourage all local businesses affected by the recent shutdowns to apply.”

Paycheck Protection Program (PPP)

The PPP, a Small Business Administration (SBA) loan that companies can use to keep their workforce busy during the COVID-19 crisis, reopened this week.

The SBA announced that small banks will be able to start processing applications on Friday January 15 and that all approved lenders – including large banks – will be able to start receiving applications on Tuesday January 19. To match with a participating PPP lender, visit the SBA Lender Match online.

To promote access for smaller lenders and their customers, SBA is initially only accepting First Draw PPP loan applications from participating Community Financial Institutions (CFIs). You can apply for a First Draw PPP loan until March 31, 2021. Further information can be found at https://bit.ly/3som4a5.

A minimum of $ 25 billion will be allocated for second-drawing PPP loans to eligible borrowers with a maximum of 10 employees or loans of $ 250,000 or less to eligible borrowers in low and middle income areas. You can apply for a PPP loan for the second drawing from January 13, 2021 to March 31, 2021. Further information can be found at https://bit.ly/3ihXF11.

Additional resources

In response to the coronavirus pandemic, small business owners, including farms, and nonprofits in all states, Washington DC and territories can apply for an Economic Injury Disaster Loan (EIDL). The EIDL program is designed to provide economic relief to companies currently experiencing a temporary loss of revenue due to coronavirus. Visit https://bit.ly/3qlpHf5 to learn more.

The governor also recently announced employee support grants for those whose jobs were impacted by the Michigan Department of Health and Human Services order dated Nov. 18. This grant program will help offset some of the financial losses they may have suffered due to vacation, layoff, or job loss or reduction in working hours.

Eligible individuals can apply for one-time grants of up to $ 1,650. From January 15th to 25th there is a 10-day window for applying for this grant. While it doesn’t, this application process will take some time, so don’t hesitate.

Further information on the application process can be found at https://www.mrlaef.org/MONEY

In addition, a new $ 900 billion Coronavirus Relief Act was passed that answers the question of whether to extend Paid Paid Sick Leave (EPSL) and Emergency Family and Medical Leave (EFMLA). The answer is yes, but it is an option, not a requirement. Visit https://bit.ly/2N3DeJH to learn what employers need to know.